Frankfurt Office Advises AXA Private Equity on Sale of International Home Shopping TV Group

July 12, 2012

AXA Private Equity sells majority stake in Home Shopping Europe (HSE24), the international TV home shopping group, to media investor Providence Equity Partners.

On July 11, it was announced that Willkie client AXA Private Equity, the leading European diversified private equity firm, has sold a majority stake in Home Shopping Europe (HSE24), the international TV home shopping group, to media investor Providence Equity Partners. AXA Private Equity will maintain a 15% interest in the company.

In 2009, Willkie advised AXA Private Equity on its acquisition of HSE24 in an all-equity transaction from the insolvent Arcandor group. Under AXA Private Equity's ownership, the multi-channel retailer continued its significant growth path with net sales rising by more than 10% per year and continued market share gains in its home markets and expansion of its multi-channel offerings. HSE24 also expanded internationally by successfully entering the Italian market in mid-2011, and by acquiring a strategic stake in Shopping Live, the Russian TV home shopping channel, in early 2012.

The Willkie team, led by partner Mario Schmidt, included partner Dr. Stefan Joergens, national partners Jan Wilms and Rolf Huenermann and associates Dr. Octávio de Sousa, Dr. Maximilian Schwab, Daniel Zakrzewski, Mario Bammann, Tobias Daubert, Marco Müller and Christian Stoehr.